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Hammers Still Hammering

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Nationwide, construction starts--ie ground-breaking on new projects are up--except in the West. California, Nevada may be tapped in terms of the beavers putting up wood, but the rest of the country saw a surprising jump in new starts. Via the Associated Press: "The Commerce Department reported Tuesday that construction of new homes and apartments jumped 22.2 percent from January to a seasonally adjusted annual rate of 583,000 units. Economists were expecting construction to drop to a pace of around 450,000 units. February's pickup was led by a big increase in apartment construction. By region, all parts of the country reported an increase in overall housing construction, except for the West, which led the housing boom and has been hard hit by the bust." According to the Wall Street Journal, the numbers were pushed by construction of apartment buildings. [Associated Press/WSJ via Daily News]